Pallas Capital Advisors LLC Buys Shares of 20,672 James River Group Holdings, Ltd. (NASDAQ:JRVR)

Pallas Capital Advisors LLC purchased a new position in James River Group Holdings, Ltd. (NASDAQ:JRVR) during the second quarter, Holdings Channel reports. The fund purchased 20,672 shares of the insurance provider’s stock, valued at approximately $170,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in JRVR. Los Angeles Capital Management LLC boosted its position in James River Group by 9.4% during the first quarter. Los Angeles Capital Management LLC now owns 40,830 shares of the insurance provider’s stock valued at $380,000 after buying an additional 3,500 shares during the period. Empowered Funds LLC increased its stake in James River Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 99,453 shares of the insurance provider’s stock worth $925,000 after purchasing an additional 7,515 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of James River Group by 32.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 37,989 shares of the insurance provider’s stock valued at $355,000 after purchasing an additional 9,414 shares during the period. Levin Capital Strategies L.P. bought a new position in shares of James River Group in the first quarter worth approximately $93,000. Finally, Simplicity Wealth LLC purchased a new position in shares of James River Group in the second quarter worth $93,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JRVR. Compass Point cut their price target on shares of James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Truist Financial cut their target price on James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, JMP Securities dropped their price objective on James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.17.

James River Group Stock Down 1.4 %

Shares of NASDAQ:JRVR traded down $0.11 on Tuesday, hitting $7.55. 388,921 shares of the company traded hands, compared to its average volume of 821,190. The stock has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $8.41. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.41. The company has a market cap of $285.59 million, a PE ratio of -3.60 and a beta of 0.16. James River Group Holdings, Ltd. has a 52 week low of $6.35 and a 52 week high of $15.88.

James River Group (NASDAQ:JRVR) last issued its earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.09). James River Group had a positive return on equity of 12.85% and a negative net margin of 10.56%. The firm had revenue of $188.30 million during the quarter, compared to the consensus estimate of $169.39 million. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, research analysts expect that James River Group Holdings, Ltd. will post 1.75 earnings per share for the current year.

James River Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.65%. James River Group’s dividend payout ratio is presently -9.57%.

James River Group Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.